Homeloans

There’s no doubt about it – buying your first home is one of the most rewarding experiences of your life! However, it is an emotional journey. Here are 6 feelings you may experience as part of the purchasing roller coaster (buckle your seatbelts – it’s quite a ride!).

1) Excitement at the prospect of buying

You’ve been working hard to save a deposit and it’s finally time to purchase. When that time comes, it’s like someone has opened the door to a whole new world. And it’s an exciting place indeed! At this point, the anticipation is killing you.

2) Confusion about what exactly is involved

You’re a rookie, so of course, the purchasing process can seem overwhelming and daunting. Where does one start? What kind of research is required? What type of loan is right for your needs?

Here’s a quick rundown of the steps involved:

1. Apply for pre-approval

2. Do your research and find the right home

3. Have your conveyancer check the contract of sale

4. Organise building and pest inspections

5. Put in an offer or go to auction

6. Finalise your home loan

7. Do a final inspection on the property

8. Settlement

9. Move-in!

3) Relief when you discover how we can help

Ahhh, you’re not in this alone. That’s right – we can walk you through the buying process, starting with the research component. Our free suburb and property reports offer a wealth of information, from details about capital growth and median values to recent sales data.

Next, we’ll take care of your finance for you. We can:

Explain your borrowing capacity (how much a bank will lend you)

Arrange pre-approval on your finance (so that you’re ready to make offers or bid at auction)

Explain loan features that may save you money in interest (for example offset accounts and redraw facilities)

Line you up with the right home loan for your specific needs

Take care of the paperwork for you.

4)Exasperation as you look for the right property

If you’re one of the lucky ones who finds the right property early, you may escape the exasperation stage altogether. However, if you find your weekends being consumed by inspection after inspection to no avail, it can leave you feeling exhausted and discouraged.

Don’t despair – your dream home is out there. Just remember, with every inspection you’re one step closer to the thrill of finding your very own pad!

5) Nervy during negotiations

You know when you’re at the top of the roller coaster incline and it’s about to drop? Waiting for a vendor to accept your offer or fronting up at an auction can feel a bit like that. There are bound to be butterflies in your stomach – just hold on tight and remember the best is yet to come.

6) Elation when the paperwork is signed and it’s yours!

There’s nothing as rewarding as receiving a shiny new set of keys and walking through the front door into your own slice of real estate. You’ve survived the journey and probably even enjoyed it! It’s at this point you’ll feel pure, unadulterated joy.

Buying your first home is an experience you’ll never forget. The thrill. The adrenalin. And the rush of emotions when it’s finally yours are hard to beat. If you’re ready to purchase your first home, please get in touch. Let us be your conductor; you just enjoy the ride.

Disclaimer
The information contained in this email and its links/attachments are general in nature and does not take into account your personal circumstances, financial needs or objectives. Before acting on any information, you should consider the appropriateness of it and the relevant product having regard to your objectives, financial situation and needs. In particular, you should seek the appropriate financial advice and read the relevant Product Disclosure Statement or other offer document prior to acquiring any financial products.

How you use your income and available credit can make a huge difference to your lifestyle, so it’s very important to get it right. That means getting reliable, ongoing advice and support from a professional credit adviser you know and trust.

Your mortgage and finance broker can help you with all your big purchases, throughout every stage of your life – from your first home, to an investment property, or even a new car or funding for your small business. Here are some of the benefits of maintaining a long-term relationship with your broker.

Deal with one person who understands you.

When you first meet with us, we take the time to understand your personal financial situation and your goals for the future. That not only means we work with you to help you make a good decision about a loan for what you need right now. It also means we work with you to ensure the decision you make is a good one for your financial future.

Whenever you need to make a big purchase or an important decision about a loan moving forward, your broker will be ready to help. We’ll keep all your paperwork on file and ensure we understand your goals, and that will save you a lot of time and hassle.

By contrast, when you go direct to a bank to get that first loan, they are only concerned about that one loan – not with what happens next. So, every time you need assistance with a new loan, you’re forced to start the whole process from scratch with someone new – which can be very frustrating and time consuming.

Maximise your income and available credit.

If you don’t have the benefit of advice from a trusted professional, how do you know you’re using your income and borrowing power to its full advantage? The last thing you want to do is waste money or miss out on opportunities to secure the home and lifestyle you really want for you and your family.

A long-term relationship with your broker gives you support to maximise your income and improve your financial situation as you progress through your life stages. This knowledge and positive support will help you to achieve the lifestyle you want and make realistic plans to use your income and borrowing power wisely to support your lifestyle in the future.

We’ll even work together with your financial planner, accountant or other professional advisors to help you achieve your financial goals and we won’t charge you for our time.

Support to achieve financial independence.

Banks tend to be strictly transactional. They just provide the service you ask for and you usually only hear from them again when they’ve got another product they want to sell.

By contrast, your broker is here to protect your interests. You can expect to hear from us regularly with any important information that is relevant to you, when the opportunity arises to save money, or to support you in taking the next step in your wealth building journey.

Manage your loans and stay on top of your financial situation.

As you progress through the different stages of your life, your financial situation will change. A common example is when you and your partner have a child and your income temporarily reduces from two salaries to one.

We will always be on hand to help you manage life stage changes and issues. A bank will not necessarily support you personally, which can be worrisome.

Call us for a chat today.

If you’re looking to buy your first home, purchase your next one, invest in property or refinance your home loan just let us know. We can even help with competitive car loans if you want to take advantage of the fantastic EOFY car sales that are on right now. We love helping you with your lifestyle purchases, as well as achieve your home ownership and wealth building goals, so please get in touch today.

Disclaimer
The information contained in this email and its links/attachments are general in nature and does not take into account your personal circumstances, financial needs or objectives. Before acting on any information, you should consider the appropriateness of it and the relevant product having regard to your objectives, financial situation and needs. In particular, you should seek the appropriate financial advice and read the relevant Product Disclosure Statement or other offer document prior to acquiring any financial products

If you’re looking to rent out or sell your home, identifying the right market for your property and making it appeal to them, will help you to maximise your profits. So how do you go about it? Use these tips for identifying the most profitable target market for your property and ways to spruce it up to increase its appeal.

Find out who wants to live in your area

The first step is to research who is currently living in the area and who may want to move there in future. Is the area popular with families, or does it appeal more to young professionals or retirees?

A simple way to find out is to touch base with a few real estate agents, to see what kind of customers they have looking for property in your area. Real estate agents often have waiting lists of buyers and renters, so it can be useful to get to know them and form a good working relationship with them if you want to buy or rent out property.

Investigate what kind of properties are in high demand

Next, find out which properties are moving fastest in your area. Are they apartments, two or three-bedroom homes, or new developments? Is the demand highest from high or low budget purchasers and renters?

Finding out the kind of customers moving into your area will also fuel ideas about how to make your property more appealing, so you can maximise your sale price or rental return

An easy way to find out is to browse local real estate agent websites to check prices and how long similar properties to yours stay on the market. Again, if you have a good relationship with your local real estate agents, you can simply give them a call and ask them.

Consider making some changes

Once you’ve discovered the kind of buyers or renters who want a property in your area, you can focus on making yours more appealing to them. Renovations can add value to a property in more ways than one!

If you decide to do some renovations, be sure to talk to us about finance before you start. Here are some ideas of the kind of features that may be popular with different demographics. It should be noted that these days, people prefer clean, recently renovated bathrooms and kitchens. Most of the ideas below can be improved or added cost-effectively and can make a big difference to a sale price or rental return.

Demographic

Features they may desire

Families

Easy clean flooringGood cooking facilities/dishwasher

Plenty of storage/laundry space

Child-friendly yard

Secure outdoor facilities for pets

Sizeable garage

Independent young people (under 35)

Trendy décorWi-fi and the latest gadgets

Dishwasher

Low-maintenance courtyard or garden

Renovated bathroom/kitchen

Off-street parking

Mature independent (over 35)

Energy-efficient featuresEasy clean décor/flooring

Plenty of storage spaces

Pet amenities/garden

Security features

Off-street parking

Elderly couples (downsizers)

Entertaining areas for family and friendsSecurity features

Low-maintenance property

Pet amenities

Don’t over capitalise!

When renovating, it’s important to budget carefully and spend wisely to ensure you don’t spend too much and you get the outcome you’re looking for.

For example, if you purchase a house for $400,000 and spend $100,000 doing it up, you’ll want to ensure the end value of the property is worth more than $500,000. You’ll also want to ensure the renovations make the property much easier to rent out or sell – for example, there’s no point putting in a swimming pool if renters and buyers in your area are not interested in having one.

Get a professional on your team.

If you need property market data about prices or rental returns, just ask us. We often have great information to share or can point you in the right direction to find what you need to make informed decisions.

Targeting the right market is often the key to maximising your returns and profits. And if you’d like to renovate, we can help you create a budget and explore your finance options. Please get in touch today if you’d like to find out more.

Disclaimer
The information contained in this email and its links/attachments are general in nature and does not take into account your personal circumstances, financial needs or objectives. Before acting on any information, you should consider the appropriateness of it and the relevant product having regard to your objectives, financial situation and needs. In particular, you should seek the appropriate financial advice and read the relevant Product Disclosure Statement or other offer document prior to acquiring any financial products.

The information contained within this website is of a general nature only. Whilst every care has been taken to ensure the accuracy of the material, Connolly Finance Pty Ltd will not bear responsibility or liability for any action taken by any person, persons or organisation on the purported basis of information contained herein. Without limiting the generality of the foregoing, no person, persons or organisation should invest monies or take action on reliance of the material contained herein but instead should satisfy themselves independently of the appropriateness of such action.